Food beverage industry

Share to Twitter Share to Linkedin Since former U.S. President Donald J. Trump signed the 2018 Farm Bill that legalized hemp at the federal level, the hemp industry seems to have flourished all over the country. The United States Department of Agriculture (USDA) estimated that the total value of hemp production is worth $824 million in 2021. The demand for CBD-based products has driven the industry's production and sales, despite the U.S. Food and Drug Administration (FDA) has not yet allowed CBD in foods, beverages, or dietary supplements . Furthermore, the 2018 Farm Bill also triggered the production and sales of minor cannabinoids with intoxicatingly psychoactive effects, such as delta-8 THC and THC-O-acetate . These products created a grey market as they are used as an alternative to recreational cannabis, especially by consumers who live in those U.S. states that have yet to churn out adult-use cannabis legislation. But last … [Read more...] about How The 2023 Farm Bill May Reshape The Hemp Industry

Share to Twitter Share to Linkedin Patrick Nycz is President of NewPoint , a full-service food and beverage marketing agency, and author of Moving Your Brand Up the Food Chain. As a food and beverage marketing agency owner, I know to stay on top of F&B trends. The industry is a highly competitive intersection of constantly evolving trends, fluctuating consumer tastes and innovation. I was so moved by the massive market share shift away from “big food” to locally sourced food that I even wrote a book about it. So, what are the most prominent food and beverage trends in retail and foodservice today? And what steps can you take to address them better? The Rise Of Plant-Based Meats (And Flexitarianism) Over half of young Americans surveyed now describe themselves as “flexitarian,” with 43% of poll respondents indicating flexitarianism as a permanent lifestyle change. Veganism and vegetarianism are also on the rise. There are many … [Read more...] about The Biggest Food & Beverage Trends: Retail And Foodservice

Share to Twitter Share to Linkedin It’s easy to come up with a startup idea. It’s really hard to then build a company that will achieve even moderate success. In 2019, the failure rate for startup businesses was around 90% according to Investopedia. So how do you hedge your bet and take out some of the unknowns that most startups have and build a successful company? You focus on industries that have a Compound Annual Growth Rate (CAGR) of more than 4%. Sounds fairly simple.  Why is CAGR important? Because it means people are steadily buying the product or service on a consistent basis over time and pandemics or recessions don’t stop the growth. That’s amazing. You want to start a company with a higher potential for success?  Review the following three industries of tea, craft beer and dog food to learn more. Twenty-three years ago, we invited an entrepreneur to speak at San Diego State University to students in the entrepreneurship program. He was really … [Read more...] about Increase Your Startup Or Small Business Success Rate: Learn What Tea, Beer And Dog Food Founders All Leveraged

A lot has happened in the dozen years since Kara Goldin founded Hint Water in 2005. The maker of unsweetened flavored waters has won shelf space in grocers from Target to Whole Foods, seen Hint become a staple in startup fridges, and raised money from about a hundred angel investors, including John Legend. If that sounds like a lot, Goldin freely admits so. But when she gets stuck, she knows exactly where to turn: a high-level network of women who help her think through all types of business challenges, especially those in marketing and distribution. "Not one of my advisers has beverage experience. There's a reason for that," says Goldin. "But they say as a CEO it's often lonely, and when I'm trying to figure out how to solve a problem, it's nice to be able to call on people who aren't in it with you every day." For the most part, these aren't women who Goldin has personally sought out. Instead, they've been introduced to her by other people whom she respects. About … [Read more...] about When the Founder of This $90 Million Beverage Company Needs Advice, These Are the Women She Turns To

PRO Only Highlights - Quarterly performance largely backed by improved realisations - Medium-term triggers China plus and protectionist measures for tyre industry - Valuations not inexpensive; but improved medium-term outlook The Q1FY23 results for Tata Consumer Products Ltd (TCPL; CMP: Rs773; Market capitalisation: Rs 71,264 crore) were in line with expectations. June 2022 quarter performance Consolidated revenues grew by 10 percent, in constant currency terms, while on a three-year CAGR (compounded annual growth rate) basis, it grew by 12 percent. India business grew by 9 percent year on year (YoY), largely led by pricing, while international business revenue grew by 8 percent, in constant currency terms. India operations (75 percent of consolidated... … [Read more...] about Tata Consumer Products: Food business likely to be the next growth engine

New York (CNN Business) Fall doesn't start for seven more weeks, but it has already begun for Oreo . Oreo's "Pumpkin Spice Sandwich Cookies" are hitting store shelves on August 15, marking their return following a five-year hiatus. The limited-edition flavor features two golden Oreo cookies with a "festive pumpkin spice flavored cream" sandwiched in the middle. Pumpkin-flavored items have become synonymous with fall, with companies launching them in August to capture the excitement. Bud Light Seltzer and Samuel Adams beer have pumpkin-flavored beverages, Cup Noodles sells pumpkin-flavored ramen and both Starbucks and Dunkin' infuse the flavor into drinks every year. Oreo has announced a return date for its pumpkin spice-flavored cookies. Seasonal items are an important marketing tool for the food industry, according to Alexander Chernev, a professor of marketing at Northwestern University's Kellogg School of Management. For food brands, … [Read more...] about Oreo is bringing back this flavor after a 5-year hiatus

Share to Twitter Share to Linkedin So far, this year hasn’t been kind to restaurant adjacent tech companies. Last month alone generated several headlines of layoffs at companies like Lunchbox, ChowNow and Nextbite, while ghost kitchen providers like CloudKitchens and Reef have struggled with some reputational issues. Through the turbulence, Kitchen United has remained steady. In fact, just last week, the ghost kitchen operator secured a $100 million funding round from some recognizable names like Burger King parent Restaurant Brands International, The Kroger KR Co. and shopping mall giant Simon. The roster of investors also includes leaders across the convenience store, packaging, logistics, distribution, automation and real estate categories. As such investments have all but come to a screeching halt , that $100 million number is certainly remarkable. CEO Michael Montagano said this latest round comes after building commercial relationships with … [Read more...] about After Securing $100 Million In Funding, Kitchen United Proves Ghost Kitchens Have Plenty Of Long-Term Potential

San Miguel Corp. reported strong financial performance in the first half of 2022 driven by top-line gains across its businesses. This, amid the lingering effects of the pandemic, supply chain bottlenecks and inflationary pressures. Consolidated sales revenue rose 73 percent to P711.4 billion on sustained volume growth and better selling prices. Operating income grew by 41 percent to P85.9 billion, boosted by  the improved performance of its fuel and oil subsidiary Petron, and sustained recoveries of its food, beverage, packaging, and infrastructure businesses. Ebitda (earnings before interest, taxes, depreciation and amortization) reached P91.2 billion, up 13 percent from the first half of 2021. Recurring consolidated net income was up 24 percent to P32.5 billion. With the effects of foreign exchange movements and the impact of the CREATE ( Corporate Recovery and Tax Incentives for Enterprises)  Law, which were reflected in its 2021 results, consolidated net income settled at P19.8 … [Read more...] about SMC delivers strong H1 results

Conglomerate San Miguel Corp. (SMC) said higher selling prices and volumes pushed sales higher in the first half of 2022 but profits were pressured by the weakening Philippine peso and pandemic tax adjustments. The food, beverage, energy and infrastructure giant said net income from January to June sank 33 percent to P19.8 billion amid foreign exchange “movements” and normalized tax expenses from last year’s effectivity of the Corporate Recovery and Tax Incentives for Enterprises Act. SMC’s total revenues jumped 73 percent to P711.4 billion while operating income rose 41 percent to P85.9 billion. SMC said earnings before interest, taxes, depreciation and amortization increased 13 percent to P91.2 billion. Earnings were propelled by the outperformance of infrastructure and Petron Corp., whose first semester 2022 earnings exceeded those of the entire 2021. The food and beverage segment also sustained revenue and profit growth while the power subsidiary saw earnings drop due to … [Read more...] about SMC first half profits declined 33%

Share to Twitter Share to Linkedin Ajisen (China), a large China restaurant chain that specializes in Japanese-style noodles, has joined a food and beverage industry flock posting weak financial results for the first half of 2022 in connection with the country’s “zero Covid” lockdowns. Ajisen expects to report a net loss of 90.0 million yuan, or $13 million, to 130.0 million yuan for the first six months of 2022, compared with net earnings of 49.7 million yuan a year earlier, the company said in a filing on Friday. The reversal is “primarily attributable” to a 33% plunge in revenue from a year earlier to 677.5 million yuan, Ajisen said. “The decrease in the revenue is mainly due to the resurgence of novel coronavirus pneumonia” in the mainland and Hong Kong, it said. “In response to the pandemic prevention measures, some of the group’s restaurants in Mainland China and Hong Kong are required to suspend operations or subject to restrictions, resulting … [Read more...] about Ajisen Joins Yum China With Weak Results Amid Lockdowns